Inflation Targeting and Exchange Rate Regimes in Emerging Markets - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Inflation Targeting and Exchange Rate Regimes in Emerging Markets write by Mr.Christian Ebeke. This book was released on 2015-10-28. Inflation Targeting and Exchange Rate Regimes in Emerging Markets available in PDF, EPUB and Kindle. This paper investigates the effects of the adoption of inflation targeting (IT) on the choice of exchange rate regime in emerging markets (EMs), conditional on certain macroeconomic conditions. Using a large sample of EMs and after controlling for the selection bias associated with the adoption of IT, we find that IT countries on average have a relatively more flexible exchange rate regime than other EMs. However, the flexibility of the exchange rate regime shows strong heterogeneity among IT countries depending on their degree of openness and exposure to FX risks. Moreover, we find that the marginal effect of IT adoption on the exchange rate flexibility increases with the duration of the IT regime in place, and with the propensity scores to adopt it.
The Role of the Exchange Rate in Inflation-Targeting Emerging Economies
The Role of the Exchange Rate in Inflation-Targeting Emerging Economies - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook The Role of the Exchange Rate in Inflation-Targeting Emerging Economies write by Anna Nordstrom. This book was released on 2009-11-24. The Role of the Exchange Rate in Inflation-Targeting Emerging Economies available in PDF, EPUB and Kindle. This paper explores the role of exchange rates in emerging economies with inflation-targeting regimes, an issue that has become especially germane during the current episode of financial turmoil and volatile capital flows. Under inflation targeting, the interest rate is the main monetary policy tool for influencing activity and inflation, and there is little agreement about the appropriate role of the exchange rate.The exchange rate is a more important monetary policy tool for emerging economies that have adopted inflation targeting than it is for inflation-targeting advanced economies. Inflation-targeting emerging economies generally have less flexible exchange rate arrangements and intervene more frequently in the foreign exchange market than their advanced economy counterparts. The enhanced role of the exchange rate reflects these economies' greater vulnerability to exchange rate shocks and their less developed financial markets. However, their sharper focus on the exchange rate may cause some confusion about the commitment of their central banks to achieve the inflation target and may also complicate policy implementation. Global inflation pressures, greater exchange rate volatility, and the financial stresses from the global financial turmoil that began in mid-2007 are heightening these tensions.
Inflation Targeting and Exchange Rate Regimes in Emerging Markets
Inflation Targeting and Exchange Rate Regimes in Emerging Markets - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Inflation Targeting and Exchange Rate Regimes in Emerging Markets write by Christian; Fouejieu Armand Ebeke. This book was released on 2015. Inflation Targeting and Exchange Rate Regimes in Emerging Markets available in PDF, EPUB and Kindle.
Monetary Policy in Emerging Markets and Other Developing Countries
Monetary Policy in Emerging Markets and Other Developing Countries - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Monetary Policy in Emerging Markets and Other Developing Countries write by Nicoletta Batini. This book was released on 2007. Monetary Policy in Emerging Markets and Other Developing Countries available in PDF, EPUB and Kindle. Over the past twenty years there has been a marked shift toward more flexible exchange rate regimes and more open capital accounts by both industrial and non-industrial economies. Two decades ago exchange rate pegs of various kinds accounted for over half of industrial country monetary policy regimes, but declined to just 5 percent of regimes by 2005, while in non-industrial countries the share fell from 75 percent to 55 percent. The move toward more flexibility in exchange rates has been accompanied by the adoption of a variety of frameworks to conduct monetary policy, ranging from inflation targeting, monetary targeting, and more eclectic approaches based on several targets. In industrial countries, exchange rate pegs and monetary targets have been replaced by regimes based on implicit or explicit inflation targets. In non-industrial countries, exchange rate pegs have also often been replaced by direct inflation targets, although many non-industrial countries still operate through somewhat eclectic regimes. This book is important read for understanding monetary policy under high capital mobility based on other countries' experiences.
Inflation Targeting in Practice
Inflation Targeting in Practice - read free eBook in online reader or directly download on the web page. Select files or add your book in reader. Download and read online ebook Inflation Targeting in Practice write by Mr.Mario I. Bléjer. This book was released on 2000-08-21. Inflation Targeting in Practice available in PDF, EPUB and Kindle. A growing number of countries are anchoring their monetary policy through explicit inflation targeting. This policy has already scored remarkable successes in several countries, establishing central bank credibility, and reining in inflation where it had long been stubbornly high. But implementing inflation targets raises many difficult questions. What prerequisites must an economy and its institutions meet for the strategy to work? What choices should central banks make from the menu of possible variations on the basic approach? This book summarizes the discussions in a seminar at which economists and policymakers from ten countries reviewed their experiences with inflation targeting.
